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New Member
posted Jun 5, 2019 11:26:01 PM

Did anyone have taxcaster estimate their 2018 return wayyyy higher than what they will receive? The estimated amount was like 4000 more than what I will receive

0 16 3086
16 Replies
New Member
Jun 5, 2019 11:26:02 PM

Yes it’s crazy! It over estimated me for $2,100 more than what I am getting. I have always used TaxCaster for years and it was pretty accurate until this year. VERY DISSAPOINTING! 

New Member
Jun 5, 2019 11:26:04 PM

Same here! My anticipated refund according to Taxcaster is much more than what Turbotax says.

New Member
Jun 5, 2019 11:26:05 PM

Same with me! I’m starting to thing they are stealing my money!!!

New Member
Jun 5, 2019 11:26:07 PM

I think they have a formula wrong in TaxCaster because Turbo tax and Taxact are showing the same refund amount that is $2,100 less than what TaxCaster showed I would get.

New Member
Jun 5, 2019 11:26:09 PM

I noticed the same amount as well. I used Taxact and it was exactly the same as TurboTax, TaxCaster is just wrong and confusing everyone

New Member
Jun 5, 2019 11:26:10 PM

Taxcaster uses new laws the others are still using 2017 calculations.  Go to the tax law reform tab on taxcaster to see the comparison. The IRS has not sent forms to Turbotax so they can not update till their software is Approved by IRS. Taxcaster not being strictly an official filing platform can give an updated guess

New Member
Jun 5, 2019 11:26:12 PM

When will the forms be sent and updated with tubotax? Why does TurboTax allow you to file if it is not correct?

New Member
Jun 5, 2019 11:26:12 PM

When will the forms be sent and updated with tubotax? Why does TurboTax allow you to file if it is not correct?

Level 15
Jun 5, 2019 11:26:14 PM

TT does not allow you to e-file if your forms are not ready.  It only allows those whose forms are ready to e-file.  But even the returns that are e-filed are just sitting on a server until the IRS starts to accept/reject returns on January 28.

New Member
Jun 5, 2019 11:26:16 PM

Sooo... is TurboTax correct and accurate then?

Level 15
Jun 5, 2019 11:26:17 PM

As correct as the data entered by the user.

New Member
Jun 5, 2019 11:26:19 PM
New Member
Jun 5, 2019 11:26:20 PM

Some of my forms are not ready till 1/24/19

Level 15
Jun 5, 2019 11:26:22 PM

Frankly--with all the new tax laws, new forms and new software, it is not optimal to file early this year.  Better to wait  until end of February or even March.

New Member
Jun 5, 2019 11:26:23 PM

Same.  Mine was estimated at 2,500 more that what TurboTax says I'm going to receive.  I was in shock.  I've always used Taxcaster and it's always been almost dead on.

New Member
Jun 5, 2019 11:26:25 PM

Never ever use tax caster. I trusted it and even after I did my taxes and entered all the accurate numbers it said I owed $200 instead of $4300. NEVER TRUST IT